Message #2 From:
Stock News Bot Date: December 6, 2005 08:28:00 AM
EIA News Eaton Vance Insured California Municipal Bond Fund II Report of Earnings
BOSTON--(BUSINESS WIRE)--Dec. 6, 2005--Eaton Vance Insured California Municipal Bond Fund II (AMEX:EIA) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended September 30, 2005. The Fund's fiscal year ended on September 30, 2005.
For the three months ended September 30, 2005, the Fund had net investment income of $962,080 ($0.249 per common share). From this amount, the Fund paid dividends on preferred shares of $160,061 (equal to $0.042 for each common share), resulting in net investment income after the preferred dividends of $802,019, or $0.207 per common share. The Fund's net investment income for the year ended September 30, 2005 was $3,890,616 ($1.008 per common share, before deduction of the preferred share dividends totaling $0.145 per common share), resulting in net investment income after the preferred dividends of $0.863 per common share. In comparison, for the three months ended September 30, 2004, the Fund had net investment income of $1,024,760 ($0.266 per common share). From this amount, the Fund paid dividends on preferred shares of $81,526 (equal to $0.021 for each common share), resulting in net investment income after the preferred dividends of $943,234, or $0.245 per common share. The Fund's net investment income for the year ended September 30, 2004 was $4,083,192 ($1.060 per common share, before deduction of the preferred share dividends totaling $0.076 per common share), resulting in net investment income after the preferred dividends of $0.984 per common share.
Net realized and unrealized losses for the three months ended September 30, 2005 were $998,337 ($0.254 per common share). The Fund's net realized and unrealized gains for the year ended September 30, 2005 were $1,371,919 ($0.360 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2004 were $2,012,921 ($0.522 per common share). The Fund's net realized and unrealized losses for the year ended September 30, 2004 were $83,291 ($0.022 per common share).
On September 30, 2005, net assets of the Fund applicable to common shares were $57,186,903. The net asset value per common share on September 30, 2005 was $14.81 based on 3,861,403 common shares outstanding. In comparison, on September 30, 2004, net assets of the Fund applicable to common shares were $55,955,057. The net asset value per common share on September 30, 2004 was $14.51 based on 3,855,544 common shares outstanding.
Common shares of the Fund are traded on the American Stock Exchange. The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp, which is listed on the American Stock Exchange under the symbol EV. Eaton Vance and its affiliates had approximately $108.5 billion in assets under management on October 31, 2005. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (617) 482-8260.
EATON VANCE INSURED CALIFORNIA MUNICIPAL BOND FUND II
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Year Ended
Ended
September 30, September 30,
----------------- -----------------
2005 2004 2005 2004
-------- -------- -------- --------
Gross investment income $1,115 $1,175 $4,497 $4,689
Operating expenses (153) (150) (606) (606)
-------- -------- -------- --------
Net investment income $962 $1,025 $3,891 $4,083
Net realized and unrealized gains
(losses) on investments ($998) $2,013 $1,372 ($83)
Preferred dividends paid from net
investment income ($160) ($82) ($558) ($292)
Preferred dividends paid from net
realized gains $0 $0 $0 ($15)
-------- -------- -------- --------
Net increase (decrease) in net
assets from operations ($196) $2,956 $4,705 $3,693
======== ======== ======== ========
Earnings per Common Share
Outstanding
-----------------------------------
Gross investment income $0.289 $0.305 $1.165 $1.217
Operating expenses (0.040) (0.039) (0.157) (0.157)
-------- -------- -------- --------
Net investment income $0.249 $0.266 $1.008 $1.060
Net realized and unrealized gains
(losses) on investments ($0.254) $0.522 $0.360 ($0.022)
Preferred dividends paid from net
investment income ($0.042) ($0.021) ($0.145) ($0.076)
Preferred dividends paid from net
realized gains $0.000 $0.000 $0.000 ($0.004)
-------- -------- -------- --------
Net increase (decrease) in net
assets from operations ($0.047) $0.767 $1.223 $0.958
======== ======== ======== ========
Net investment income $0.249 $0.266 $1.008 $1.060
Preferred dividends paid from net
investment income (0.042) (0.021) (0.145) (0.076)
-------- -------- -------- --------
Net investment income after
preferred dividends $0.207 $0.245 $0.863 $0.984
======== ======== ======== ========
Net Asset Value at September 30
(Common Shares)
-----------------------------------
Net assets (000) $57,187 $55,955
Shares outstanding (000) 3,861 3,856
Net asset value per share
outstanding $14.81 $14.51
Market Value Summary (Common
Shares)
-----------------------------------
Market price on AMEX at
September 30 $14.77 $14.58
High market price (year ended
September 30) $15.94 $15.33
Low market price (year ended
September 30) $13.98 $12.82
